CCIFP Exam Questions & Answers | 100% Correct
Answers | Verified | Latest 2024 Version
Q:Julie has a $100,000 30-year mortgage on her new
home. What type of life insurance could she purchase
that is designed to pay off the loan balance if she dies
within the 30-year period? - A:Decreasing ...
Q:Julie has a $100,000 30-year mortgage on her new
home. What type of life insurance could she purchase
that is designed to pay off the loan balance if she dies
within the 30-year period? - A:Decreasing term
insurance
Q:Shirley has a $500,000 10-year non-renewable
level term life policy. If she dies 15 years after the
policy's inception date, how much will her beneficiary
receive? - A:Nothing". Her beneficiary will receive
nothing because the policy is valid for only 10 years
Q:A single premium cash value policy can be
described as - A:a policy that is paid up after only one
payment
Q:Decreasing term life insurance is often used to -
A:provide coverage for a home mortgage
Q:Index whole life insurance contains a securities
component that acts as a(n) - A:hedge against
inflation
Q:A Renewable Term Life insurance policy can be
renewed - A:at a predetermined date or age,
regardless of the insured's health
,Q:Term insurance is appropriate for someone who -
A:seeks temporary protection and lower premiums
, Q:Peter has a policy where 80% to 90% of the
premium is invested in traditional fixed income
securities and the remainder of the premium is
invested in contracts tied to a stipulated stock index.
What kind of policy is this? - A:"Equity index whole life
Q: legal purpose is a term used in contract law
meaning? - A: there must be legal reasons for
entering into a contract.
Q: which of the following is an example of the
insurance consideration? - A: A paid premium
Q: according to the principle of utmost good faith, the
insured will answer questions on the application to
the best of their knowledge and pay the required
premium, while the insurer will deal fairly with the
insured and it's? - A: promises made
Q: when the principal gives the agent authority in
writing, it is referred to as? - A: Express authority
Q:all of the following are elements of an insurance
policy except? - A: claim forms
Q: in an insurance contract, the insurer is the only
party legally obligated to perform. Because of this,
and insurance contract is considered? - A:unilateral
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